Toyota's China Sales Fall
- 14 years ago
In today's market report... we look to the sales of Toyota in China. They were down six percent in October, but rivals like Nissan and Hyundai are planning on expanding in the Mainland.
Toyota Motor's China sales in China fell six percent in October, while rival carmakers are accelerating into the world's top auto market.
The on-year fall in sales was the first in 18 months for Toyota, which the Nikkei business daily attributed to weaker Sino-Japanese ties.
Nonetheless, Japan No.3 Nissan's joint venture actually raised its 2012 sales target on Monday by 50 percent to 1.5 million vehicles.
South Korean giant Hyundai is building a third plant in China, boosting total capacity to one million units, while overall sales jumped 10.4 percent in October.
South Korean and Indian carmakers posted strong sales in October, while Japanese firms saw double-digit declines at home due to the end of domestic subsidy programs.
The Korean won has firmed, but the Japanese yen, which is near a record high against the dollar, has hurt the price competitiveness of Japanese cars sold overseas.
Toyota Motor's China sales in China fell six percent in October, while rival carmakers are accelerating into the world's top auto market.
The on-year fall in sales was the first in 18 months for Toyota, which the Nikkei business daily attributed to weaker Sino-Japanese ties.
Nonetheless, Japan No.3 Nissan's joint venture actually raised its 2012 sales target on Monday by 50 percent to 1.5 million vehicles.
South Korean giant Hyundai is building a third plant in China, boosting total capacity to one million units, while overall sales jumped 10.4 percent in October.
South Korean and Indian carmakers posted strong sales in October, while Japanese firms saw double-digit declines at home due to the end of domestic subsidy programs.
The Korean won has firmed, but the Japanese yen, which is near a record high against the dollar, has hurt the price competitiveness of Japanese cars sold overseas.